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16 December 2013 | Free Daily Analysis | EURUSD : SUPPORT THE KEY

DB 1612 H1
DB 1612 H4
Happy New Week Surfers.

Yesterday’s Report

The year’s High remains intact after the pullback that began on Thursday, continued on a quiet old Friday. A modest range of 60 pips saw EUR/USD close the week a mere 23 pips higher than when it began.

Technical Analysis

 

Price Action appears likely to consolidate within our Daily Critical Zones of 1.3700 and 1.3815 whilst the market contemplates its next move. Daily Pivot has crossed over Weekly to the South, upsetting the Bullish formation and creating uncertainty in directional terms. A break of our Support Trendline #1 would suggest there’s more pullback to come but whilst PA remains above it, I believe the target North is too big to ignore.

The Day Ahead

Early News might set the scene today but I do think #1 holds the key to where we go from here. If PA makes it’s way there, it’s the Hotspot of the Day.
High Impact News – CET
9:00am EUR French Flash Manufacturing PMI
9:30am EUR German Flash Manufacturing PMI
3:00pm EUR ECB President Draghi Speaks

Magic Monday everyone

Geoff Pyne  
CERTIFIED TRADER
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